Is it because the stock is down? We all TWTR; therefore, someone will buy them…eventually?
Yeah everyone used AOL and look where that went before coming public again, then getting bought out for a sick premium.
This version of the dot com bubble sucks. None of us got to make money, I mean real money, on the hype. All of the fuck you money was made in private markets and we got the fucking leftovers, the joys of ZNGA-GRPN-YELP on the other side of the mountain.
The greedy little VCs kept these companies private, hyped their valuations to absurd levels, then got liquid on us.
TWTR is still trading 13x sales, a crazy premium for a company with hardly any growth.
I own TWTR from higher levels, but never thought it was cheap. I am holding long term and will buy the shares when everyone else wants to vomit theirs.
This fucker is heading for a 2 handle, no doubt.
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snapchat for dick pics is already @ 20 bill and uber @ 50 bill
Snapchat hasn’t just been just for dick pics for awhile now. Uber will most likely be worth 100 billion eventually. Crazy.
But that’s precisely the problem. Late-round VCs with liquidation preferences get that valuation in the event that it exits.
Everyone from institutional to retail gets fucked on IPO. Even the employees, who might have stock (restricted via 83(b) or not) don’t necessarily have a chance to sell at these valuations.
Even when a company makes that $1B unicorn mark, all that means is that the founders made tens of millions on the way up, VCs make hundreds of millions on the way up, everyone else gets fucked.
As Keynes put it, in the long run, we’re all dead. The VC equivalent is that in the long run, all companies end up going back to zero. At least with liquid public markets, some people might make money off the run up and the run down.
With the cost of compliance being prohibitive for most startups in the era of SOX, maybe I should be thinking less about Keynes and more about Sartre: there’s no exit.
Hard to own Twitter when you’re effectively paying “management” a 5% dividend on the shares that you own in the form of stock based compensation.
Buying Twitter stock is like donating to a charity for incompetent corporate executives.
Basically… Noto’s compensation for 2014 was what, like $74 million? hahaha
We booted Uber out of East Hampton for bad behavior and the summer types from NYC wined like we stolen their dogs. Uber’s arrogance is epic.
Uber’s market cap is almost the same as Ford Motor.
Uber won’t be around in 5-10 years, and NOT because it will be bought out.
Rich kids in the Hampton’s arrogance and entitlement is also epic if you believe this article. http://www.nytimes.com/2015/07/26/style/uber-hamptons-dark-blackout-cabs.html
That’s what’s happening here.
From 2 handle to 1 handle. Black flags raised over my entire account today as oil goes to zero and since TWTR makes oil its going down too.
I’m still pushing SHOP, just because I own it and I want you to buy it.